You are here

You are here

Gide advises ECGLC on hydroelectric power plant agreement

15 August 2019

Earlier this month, Gide Loyrette Nouel represented the Economic Community of the Great Lakes Countries (CEPGL) and the governments of Burundi, DRC and Rwanda in the signing of agreements related to building the hydroelectric power plant Ruzizi III. It is an iconic electricity independent production project (IPP) that is set to provide electricity for residents in the Africa Great Lakes region and is based on a Build-Own-Operate-Transfer (BOOT) model, while the project is backed by a 25-year concession agreement and costs roughly USD 650 to 700 million. These agreements will provide for the respective obligations for CEPGL, the DRC, Burundi and Rwanda and their national utility companies, as well as the project company which is incorporated by IPS (Kenya), which is a branch of Switzerland-headquartered Aga Khan Fund for Economic Development, which is in charge of industry and infrastructure.